Amid ‘challenging retail environment’
In its results for the year to 27 January, profits at menswear retailer Moss Bros fell by 6.1 per cent to £6.7m. The group’s sales pre-tax income dropped by 6.1 per cent to £6.7m on revenue up 3 per cent at £131.8m.
Blaming the “extremely challenging retail environment”, Moss Bros’ chief executive Brian Brick said: “Going forward, we are planning for an extremely challenging retail environment, not least because of the uncertain consumer environment and significant cost headwinds.
“However, there is no question that we have hampered our own position through the stock shortages and as this gets back on track, our strong consumer proposition is restoring momentum.”
“The early response to the 2018 Spring/Summer retail range has been positive although our lack of stock has been challenging and as a result, retail like-for-like sales are below the same period last year,” he added.